Total retail sales rose 0.7 percent in November, the Commerce Department said Thursday. It was the biggest gain in five months. And spending at retail businesses rose 0.6 percent in October, higher than previously estimated.
Ford plans 23 new cars, 11,000 new jobs in 2014
DEARBORN, Mich. (AP) — Ford Motor Co. says it will hire more than 11,000 people in the U.S. and Asia next year to support an aggressive rollout of new vehicles.
Joe Hinrichs, Ford's president of the Americas, said the company plans to hire 5,000 workers in the U.S. — including 3,300 white-collar staff like engineers — and 6,000 workers in Asia. Many of those hires will work at two new plants that are opening in China. This will be the most people Ford has hired in one year since 2000.
2014 will also be its busiest product year in Ford's 111-year history, with 23 new vehicles being introduced around the world. Of those, 16 will be sold in the U.S., including a new Mustang sports car, Transit Connect van and Lincoln MKC small utility.
As IPO market booms, Hilton shares jump in debut
It's a suite day for Hilton investors.
Its shares gained 7.5 percent to close at $21.50 Thursday after the hotelier raised $2.35 billion in the largest hotel IPO ever.
Hilton Worldwide Holdings Inc. is the world's largest hotel group with 665,667 rooms across 90 countries and territories. It operates luxury brands such as the Waldorf Astoria and Conrad Hotels & Resorts but has built much of its recent growth on franchise deals.
Investor demand for IPOs has been strong recently with 218 IPOs in the U.S. this year, the most since 2000, according to research and investment firm Renaissance Capital. And Hilton's offering trumped the $2.1 billion generated by Twitter's IPO last month, as well as proceeds from offerings by its competitors.
By The Associated Press=
The Dow Jones industrial average fell 104.10 points, or 0.66 percent, to close at 15,739.43. The Standard & Poor's 500 index fell 6.72 points, or 0.38 percent, at 1,775.50. The Nasdaq composite dropped 5.41 points, or 0.14 percent, to 3,998.40.
Benchmark U.S. oil for January delivery rose 6 cents to close $97.50 on the New York Mercantile Exchange. Wholesale gasoline fell 3 cents to $2.63 a gallon. Heating oil lost 4 cents to $2.98 a gallon. Natural gas rose 7 cents to $4.41 per 1,000 cubic feet. In other markets, Brent crude, a benchmark for international oils, was down 74 cents at $108.96 a barrel on the ICE exchange in London.
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